A project milestone is an indicator that shows an important achievement in a project. The event could be the breaking of ground on a new building. A milestone could be a final testing event. A milestone could also be the end of one phase of a project.
Milestones should be preceded by a clear sequence of events that incrementally build up until your project is complete. Project milestones are a way of knowing how the project is advancing, especially if you’re not familiar with the tasks being executed.
In the planning of the project, milestones should be identified and discussed. A milestone list should be used to document the events. By documenting the milestones, stakeholders and project teams will have more clarity on goals and how the project is tracking.
The milestone list will also provide warnings on the health of the project. If milestones are not met and other activities occur when proceeding tasks are not finished, then the project might be in trouble.
Milestones will allow everyone to see the progression of the project at a high level and be able to make decision with more insight. Each project is unique and will have different significant events so the number of milestones will be different for every project.
The milestone list is also a great way for the project manager to communicate with stakeholders and the project team because the milestones will keep everyone informed and focused on upcoming activities and events.